Two Housing Bits for Tuesday.

Builder confidence may have dropped 2 points to 68 and missed the expected jump to 78 but the NAHB Housing Market Index reading for 2018 is at 70, the highest average recorded, highlighting a strong market that builders are overall confident with. The miss came mostly from rising lumber costs.

Housing Starts in May rose 5 percent, the highest pace in 11 years and more than double the 2 percent gain expected. Both, single-family and multi-family housing increased; with single-family, which is what we care about more, rose by 3.9 percent. Unfortunately, Housing Permits showed a different and more disappointing story, falling 4.6 percent.

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Hall Financial (NMLS #1467435) was formed in early 2016, founded on a common mission: to be the most client focused mortgage company in the industry’s history. We were going to stop the trend of treating homeowners and homebuyers as transactions and instead, welcome them as family. We were going to treat them like the queen of England. Here, we bring you up to speed and keep you in the know with the latest housing news, home trends, and more!